Eminent Domain Appraisals are most often developed as a result of a whole or partial taking of real estate by a government agency or utility company. The purpose of an Eminent Domain Appraisal is to determine a fair amount of compensation to pay a property owner experiencing a loss of property or property rights. Appraisals performed in a total taking of a property are usually considered simple evaluations. The taking of a portion of a property through Eminent Domain is much different and typically requires a complex appraisal demonstrating the Unimpaired Value, Impaired Value and a Damage Value of a property. The Impaired Value is deducted from the Unimpaired Value, resulting in the Damage Value. This is called a Diminution in Value Appraisal or a DIV.
Few companies have more experience in developing Diminution in Value Appraisals than ELLIOTT®. We have prepared hundreds of DIV Appraisals nationwide and understand what is required to deliver a professional Eminent Domain Appraisal. Give us a call to discuss your Appraisal needs.